The Fed

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Bank CEOs Have Their Heads in the Clouds

Booms and BustsThe FedMoney and Banks


No matter the situation, bank CEOs believe that the Big Score is just around the corner. Then reality hits.

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The Central Bank Policy Interest Rate vs the Natural Rate

Central BanksEconomic PolicyThe FedFree Markets


While central banks use administered interest rates in hopes of emulating the natural rate, these efforts are always going to fail. Without free markets, there is no natural rate.

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Striking Autoworkers Will Only Harm Their Own Livelihoods

The FedLabor and WagesMonetary PolicyU.S. Economy


Autoworkers are angry at their working situation and are striking for higher wages and a shorter work week. Their anger is misdirected.

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Welcome to the Twenty-First Century American Bankruptcy Show

Booms and BustsCronyism and CorporatismThe FedU.S. Economy


As the US economy sours, look for a wave of new bankruptcies. The Fed cannot pull any rabbits out of its monetary hat this time.

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Inflation: Government’s Insidious Form of Theft

The FedInflationMonetary Policy


While court economists such as Paul Krugman insist that inflation is government's way of ensuring full employment, in reality, inflation is one of the many ways governments steal from productive people.

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Why Stabilization Policy is Destabilizing

The FedInflationMonetary PolicyU.S. Economy


The call for "price stabilization" was part of the recent Republican debate. Despite its attractive appearance, having the Fed try to "stabilize prices" is a very bad idea.

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There Is No Fed Magic Trick to Achieve a Soft Landing

The FedMonetary PolicyTaxes and SpendingU.S. Economy


There are no more rabbits for the Fed monetary magicians to pull out of their hats. In an economy addicted to artificially low interest rates, any more moves by the Fed will trigger an economic downturn.

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The Fed: Harming the Economy for over a Century

The FedInflationUnemploymentU.S. EconomyU.S. History


While we criticize the Fed for its monetary predations over the past few years, we really should look at the harm the Fed has caused for more than a century. Its record is abysmal.

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Help Us Get What Has Government Done to Our Money? into the Hands of Students!

Booms and BustsCentral BanksEconomic PolicyThe FedInflationStrategy

This year marks the sixtieth anniversary of Murray Rothbard’s classic work What Has Government Done to Our Money? We need your help getting it into the hands of a new generation.

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The Great Phony Disinflation Enters Its Finale

The FedInflationMonetary PolicyPolitics


Supposedly, the "big news" is the decline of inflation. However, the monetary and political forces driving the latest bout of inflation have not gone away.

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